Central Banking
Venezuela tightens grip on FX in bid to close down unofficial market
Central Bank of Venezuela to attempt to curb the depreciation of the bolivar by taking control of foreign exchange
China sought safety in US Treasuries as eurozone markets unsettled investors
Treasury data out on Monday show China and Japan heavily increased their holdings in US Treasuries in March
Values of Target2 transactions slide by a fifth
European Central Bank blames economic slowdown for decline in turnover; volume of transactions also dips
Bini Smaghi defends ECB policy to dump rating agencies
ECB board member Lorenzo Bini Smaghi attacks rating agencies for role in Greek debt crisis
Yilmaz confident Turkey can keep up with other emerging markets
Central Bank of Turkey governor Durmas Yilmaz says country’s lack of toxic assets has paid off during the recovery
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
BoJ: payments systems need liquidity revamp
Bank of Japan review on payments and settlement systems says current liquidity requirements are inadequate
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Senior US lawmakers flag room for manoeuvre on derivatives reform
Senate Banking Committee head Chris Dodd and derivatives overhaul author Blanche Lincoln say negotiation still possible on controversial derivatives package; clearinghouse clause looks set to stay
Nigeria under attack from government aide over reforms
Nigeria’s National Security adviser General Gusau says central bank's reforms are hampering country's recovery
Buba’s Weber interested in price-level targeting
Bundesbank president Axel Weber says move to price-level targeting could help anchor inflation expectations
Trichet reaches out to German public
European Central Bank chief Jean-Claude Trichet participates in several interviews with German media to assuage fears over the central bank’s entry into bond markets
RBI’s Subbarao: Tobin tax benefits “debatable”
Reserve Bank of India governor Duvvuri Subbarao says India will hold back on capital controls
Richmond Fed on sovereign debt dilution
A Richmond Federal Reserve study shows having a sovereign debt default program in place reduces sovereign market risk
Fed’s Hoenig approves Hutchison amendment
Kansas City Fed president Thomas Hoenig says the Hutchison amendment will strengthen the oversight of small banks
RBA: inflation expectations converging globally
Reserve Bank of Australia paper finds inflation targeting policies helped the convergence of inflation forecasts to US levels
Central banks in biggest US Treasury sell-off for three years
Federal Reserve data shows foreign holders of US treasuries moved away from the dollar
Deficits set to stay sky-high despite growth revival, warns Fund
IMF says deficits worldwide will fall by less than expected in 2010, in spite of improved growth prospects; developed economies worst offenders
NBB’s Praet backs DG Competition for EU resolution authority
National Bank of Belgium’s Peter Praet says Directorate General for Competition could play credible role in resolving failed banks
Emerging Europe keen on euro despite Greek debt woe
Central and Eastern European countries remain drawn to the single currency despite Greek troubles
Albania accused over hotel deal: reports
Albanian central bank buys country’s oldest hotel from government, opposition politician reportedly alleges misconduct
SNB records $1.3bn profit for first quarter
The Swiss National Bank’s has reported a quarterly net profit of Sfr1.5 billion for the first three months of the year
ECB Monthly Bulletin (May)
European Central Bank explains unprecedented bond purchases
BoK bristles at government presence during rate-setting vote
Bank of Korea governor Kim Choong Soo calls for change in government involvement in monetary-policy meetings; tensions threaten to escalate into full-blown row